After several difficult years for fine wine prices, the market is beginning to look more positive.
All three of the major Liv-ex indices rose over the past month and are now higher for both 2026 and the past 12 months. Bordeaux has also returned to the centre of the secondary market, supported by strong buying from the US.
It is an encouraging shift, but not every region, producer or vintage is rising. Buyers remain selective, with demand concentrating around recognised producers, strong vintages and wines with a history of performing well on the secondary market.
So, is the fine wine market recovering? The latest data suggests it may be, although this looks more like the beginning of a selective recovery than a return to the rapid price growth seen earlier in the decade.
In this blog, you'll learn
- Why the latest Liv-ex results point to a more positive fine wine market
- How Bordeaux reclaimed its position as the most actively traded region
- Why US buyers are having a growing influence on global demand
- Which regions are leading and lagging the recovery
- What the latest movements could mean for collectors
Fine wine prices are beginning to move higher
All three of Liv-ex's major fine wine indices rose over the latest month.
The Liv-ex Fine Wine 100, widely considered the leading benchmark for the fine wine market, increased by 0.7%. It is now up 1.1% in 2026 and 4.4% over the past year.
The broader Liv-ex Fine Wine 1000 rose 0.5% for the month, taking its gain for the year to 0.8%. The Fine Wine 50, which follows the ten most recent physical vintages of Bordeaux's five First Growths, also increased by 0.5% and is now 0.6% higher in 2026.
| Liv-ex index | Monthly | 2026 year to date | One year | Five years |
|---|---|---|---|---|
| Fine Wine 50 | +0.5% | +0.6% | +2.9% | -23.2% |
| Fine Wine 100 | +0.7% | +1.1% | +4.4% | -8.0% |
| Fine Wine 1000 | +0.5% | +0.8% | +2.0% | -8.7% |
The monthly increases are relatively small, but the consistency is important. The three main indices are now positive over the month, the year to date and the past 12 months. That is a meaningful change after a prolonged period in which fine wine prices were largely moving in the opposite direction.
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There is still a long way to go before we could describe this as a complete recovery. The Fine Wine 50 remains 23.2% lower over five years, while the Fine Wine 100 and Fine Wine 1000 are down 8.0% and 8.7% respectively.
Prices may be starting to recover, but many remain well below where they were five years ago. For collectors, that means there may still be opportunities, particularly among established wines that have fallen further than their quality or long-term d emand might suggest.
Caption: Liv-ex Indices, as at 3 September 2026. Source: Liv-ex
Bordeaux is back at the centre of the market
Bordeaux has reclaimed its position as the most actively traded fine wine region.
Over the week of the 14th-20th August, Bordeaux accounted for 37.4% of total trade by value, up from 27.0% the previous week. Its share then increased again to 44.3% in the following weekly report.
Importantly, buyers were not purchasing Bordeaux indiscriminately. Demand centred on established estates and well-regarded vintages, particularly wines that are easy to recognise, compare and resell on the secondary market.
Chateau Latour was Bordeaux's most traded producer in the first of the two weeks, accounting for 20% of the region's trade by value across its different vintages. Latour 2006 and 2009 both appeared among the five most traded wines in the wider market.
The following week, Chateau Lafite Rothschild 2016, Chateau Lynch-Bages 2020 and Chateau Leoville Poyferre 2009 were the three most traded wines by value. Liv-ex also noted that all three had experienced steady price growth over the preceding months.
This tells us buyers are returning to Bordeaux, but they are still being careful about what they buy and the price they pay. Strong vintages and recognised producers are attracting attention, rather than the entire region rising together.
That distinction can also be seen in the Bordeaux 500. Despite Bordeaux accounting for a much larger share of weekly trade, the index rose by only 0.2% over the month and remains 0.2% lower in 2026.
More Bordeaux changing hands is an encouraging sign, but it does not mean prices are rising across the whole region. Increased trading can improve confidence and help establish clearer market prices, although sustained demand will be needed before that translates into broader growth.
US buyers are driving demand
One of the clearest themes in the latest data is the influence of US buyers.
American buyers accounted for 45% of all purchases by value in one weekly period and 41% in the next. Within Bordeaux, their influence was even greater, with US buyers responsible for 50.9% of the region's trade in the latter week.
Their Bordeaux buying focused on highly regarded vintages including 2009, 2016, 2020 and 2022. US demand also supported trading in Vega Sicilia, helping Spain capture an unusually strong 4.8% of the market in one of the weekly reports.
Some of this dominance may have been seasonal, with many European market participants away during August. However, US buyers led the market for two consecutive weeks, suggesting their influence cannot be dismissed as a single quiet trading period.
Why does this matter to collectors in Australia? Fine wine is traded globally. When demand grows in a major market such as the US, sought-after stock can become harder to replace, influencing prices in other countries even if local demand has not changed to the same extent.
Currency movements, freight, duties and local availability will still affect Australian prices, but sustained international buying can eventually flow through to what collectors pay here.
Champagne and Burgundy remain resilient
Beyond Bordeaux, Champagne and Burgundy continue to show relative strength.
The Champagne 50 rose by 1.4% over the month, making it one of the strongest-performing regional indices. It is now up 3.1% in 2026 and 3.3% over the past year.
Demand remained focused on important names. Salon was Champagne's most traded producer across vintages in one period, while Jacques Selosse Substance was its most traded individual wine.
Champagne's overall share of weekly trade later fell from 11.6% to 7.8%. However, the positive index performance suggests demand for its most collectible wines remains relatively strong, even when fewer bottles are changing hands.
The Burgundy 150 rose by 0.7% for the month, taking its year-to-date gain to 1.4% and its one-year performance to 3.2%.
Burgundy's share of trade fell as Bordeaux strengthened, moving from 27.8% in one weekly period to 21.6% in the next. Rare wines from Domaine de la Romanee-Conti, Domaine Leflaive, Domaine Leroy and other tightly allocated producers nevertheless continued to attract buyers.
In the second weekly report, Domaine de la Romanee-Conti and Jean-Claude Ramonet together represented more than one-third of Burgundy trade by value.
This does not mean all Burgundy is recovering at the same rate. The greatest demand remains concentrated among producers with exceptional reputations, genuinely limited production and an established international following.
Some regions are recovering faster than others
The regional indices show just how uneven the market remains.
| Regional index | Monthly | 2026 year to date | One year | Five years |
|---|---|---|---|---|
| Champagne 50 | +1.4% | +3.1% | +3.3% | +8.7% |
| Burgundy 150 | +0.7% | +1.4% | +3.2% | +3.1% |
| Italy 100 | +0.7% | +2.2% | +3.2% | +3.7% |
| Bordeaux 500 | +0.2% | -0.2% | +0.4% | -19.4% |
| California 50 | -0.3% | +1.5% | +0.9% | -10.2% |
| Rhone 100 | -0.3% | -0.7% | +2.8% | -18.9% |
| Rest of the World 60 | 0.0% | +0.7% | -0.3% | -13.9% |
Champagne, Italy and Burgundy are the only major regional indices in the latest data to remain positive over five years. All three also rose during the month, suggesting their relative strength is continuing.
The Italy 100 is now up 2.2% in 2026, although Italian wines accounted for a relatively small share of recent weekly trade. Piedmont moved ahead of Tuscany by value in one period, led by Gaja and Giacomo Conterno, while Tenuta San Guido was the main driver of Tuscan activity.
California and the Rhone both fell by 0.3% over the month. The Rhone remains 0.7% lower in 2026, while California is up 1.5% for the year but still 10.2% lower over five years.
This is why it is important to look beyond a single headline index. The overall market may be improving while individual regions, producers and vintages continue to move very differently.
What does this mean for collectors?
The latest figures are encouraging, but they do not suggest collectors should simply buy anything classified as fine wine.
Instead, the data reinforces several of the principles that matter in any market.
Focus on wines with established demand
The clearest improvement in trading has occurred among recognised producers such as the Bordeaux First Growths, leading classified estates, prestige Champagne and Burgundy's most sought-after domaines.
These wines generally have a larger pool of potential buyers, making them easier to value and, in many cases, easier to sell than less established labels. This is what is meant by liquidity in the fine wine market.
Compare vintages, not just producers
Recent Bordeaux activity has concentrated on strong years including 2009, 2016 and 2020. Even when two bottles carry the same producer name, their quality, critic scores, availability, drinking window and current price can make one vintage more attractive than another.
A recognised label is important, but the price paid relative to other vintages can be just as significant.
Look at the longer-term picture
Recent gains do not erase the correction of the past several years. Bordeaux, California and the Rhone remain considerably lower over five years, while even the broader market indices have not returned to their previous levels.
For long-term collectors, this may still create opportunities. The key is identifying wines where today's price looks attractive relative to quality, scarcity and historical demand, rather than assuming every wine that has fallen will recover.
Do not overlook provenance and storage
As buyers return to older and more valuable vintages, the history of each bottle becomes increasingly important. Correct storage, original packaging and clear provenance can affect both a wine's condition and how readily another collector will buy it.
Two bottles of the same wine and vintage are not necessarily equal if one has an uncertain history.
Is the fine wine market recovering?
There are now more reasons to feel positive about the fine wine market than there were at the beginning of the year.
The major Liv-ex indices have risen over the month, the year to date and the past 12 months. Bordeaux has reclaimed a substantial share of weekly trade, US buyers are bringing meaningful demand into the market, and Champagne, Burgundy and Italy continue to perform relatively well.
However, we are not seeing all regions or wines rise together. Bordeaux trading has recovered faster than Bordeaux prices, several regional indices remain negative for the year, and the five-year results show that much of the market remains below its previous highs.
For now, this looks like a selective recovery led by strong vintages and producers with proven global demand.
That may ultimately be a healthier foundation for the market. Rather than prices rising simply because a bottle carries a famous name, buyers are paying closer attention to quality, vintage, scarcity, provenance and price.
For collectors prepared to do the same, the current market may still offer opportunities.
Market data sourced from Liv-ex and current as at 3 September 2026. Past performance is not a guarantee of future returns. Wine should be considered a long-term, illiquid asset, and buying decisions should account for costs, provenance, storage and personal objectives.
